Fitbit Statistics and Informations: ValueMags

ValueMags has recently done research about Fitbit and this is what they found:

HISTORY

Launched in 2007 as previously said

Fitbit went public on the stock exchange on June 18th, 2015 at $30.40 which is 52% higher that its initial public offering (IPO)

In August of 2015, the company had 7 products:

2 clippable activity trackers

4 wristband trackers

1 smart scale

November 2015: Changed Charge HR and Surge to enhance its technology. The new system was called SmartTracker and allowed the device to identify what activities people were doing so they no longer had to manually tell the device, more accurate heart rate tracking

FINANCIALS

As of 2014, Fitbit held 68% of the fitness tracking market

The 1st two quarters of 2015, Fitbit generated revenue of $737 million (almost as much as they did in 2014) – they essentially doubled their revenue in a year

The 1st two quarters of 2015, the company sold 8.3 million Fitbits whereas in 2014, they sold 10.9 million in all 4 quarters

Over 80% of Fitbit orders were placed on Amazon of Fitbit’s official website

THE MARKET

International Data Corporation (IDC) reported that the wearable devices market was growing faster than any other electronics segment between 2010 and 2014